Comrad

Comrad

Closed: Dec. 2022

About this raise

Comrad, with a valuation of $25 million, is raising funds on Republic. The company makes premium compression socks designed for comfort and performance. The socks of Comrad soothe and energize legs and feet while people are standing, sitting, traveling, exercising, or working out. The socks are designed with specific ranges of compression that increase circulation and provide wellness benefits. Comrad is on a $10 million revenue run-rate as of Q2 2022 and has reported a 223% annual revenue growth since its launch. Andrew Ferenci founded Comrad in October 2015. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used to launch new products.

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Investment Overview

Invested this round: $82,247

Deal Terms

Total Commitments

Platform
Republic
Start Date
08/25/2022
Close Date
12/26/2022
Min. Goal
$25,000
Max Goal
$1,070,000
Min. Investment

$250

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$25,000,000

Discount

0%

Company & Team

Company

Year Founded
2015
Industry
Apparel & Fashion
Tech Sector
HealthTech
Distribution Model
B2C
Margin
High
Capital Intensity
Low
Location
Claymont, Delaware
Business Type
Growth
Company Website
Visit Website

Team

Employees
8
Prior Founder Exits?
Yes
Founder Name
Andrew Ferenci
Title
CEO

Financials

 Revenue +26% YoY
$4,297,364
 Monthly Burn
$137,024
 Runway
3 months
Gross Margin
78%

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$4,297,364

$3,418,223

COGS

$946,144

$729,922

Tax

$0

$0

 

 

Net Income

$-1,644,286

$-1,071,971

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$414,282

$792,877

Accounts Receivable

$0

$0

Total Assets

$1,325,748

$1,311,437

Short-Term Debt

$3,878,132

$3,861,071

Long-Term Debt

$649,533

$214,040

Total Liabilities

$4,527,665

$4,075,111

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Compression socks were originally designed for medial use -- to improve circulation or help with musculoskeletal ailments like plantar fasciitis. But thanks to the range of health benefits they offer, compression socks are becoming increasingly popular. You don’t have to be a nurse or have aches in your feet to enjoy improved blood flow, decreased swelling, and even lymphatic drainage.

Those benefits were exactly what Andrew Ferenci needed. He had a job that required him to travel regularly. The frequent plane rides were causing swelling and pain in his feet. He wanted a solution that didn’t scream “medical device,” something he could wear with his regular clothes that wouldn’t draw attention or distract from his work. Thus, Comrad was born.

Company Funding & Growth

Funding history

Total Prior Capital Raised
$1,500,000
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
12/26/2022 Republic $25,000,000 $82,247 SAFE Funded RegCF
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Add to portfolio
Comrad on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $25,000,000

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Follow Comrad on Republic 2022

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Warning: according to the close date for this deal, Comrad may no longer be accepting investments.

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